Overview and Scope
Commercial buildings refer to any structure that is constructed for industrial or public purposes for commercial activities that generate a profit, but is not a residential building. They are used for business-related purposes.
Sizing and Forecast
The commercial buildings market size has grown steadily in recent years. It will grow from $1880.41 billion in 2023 to $1943.55 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to economic growth and stability, urbanization trends, regulatory environment, consumer behavior and preferences, global events and crises.
The commercial buildings market size is expected to see steady growth in the next few years. It will grow to $2236.76 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to flexible work arrangements, climate change mitigation, rapid urbanization in emerging markets, e-commerce impact on retail spaces, government initiatives and incentives. Major trends in the forecast period include advanced security systems, modular construction, data-driven decision-making, smart building technology, digital transformation.
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Segmentation & Regional Insights
The commercial buildings market covered in this report is segmented –
1) By Product: New Construction, Repair And Maintenance, Refurbishment And Demolition
2) By Application: Owned, Rental
3) By End User: Offices, Retail, Leisure, Other End Users
Asia-Pacific was the largest region in the commercial buildings market in 2023. The regions covered in the commercial buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing construction of green buildings is expected to propel the commercial buildings market going forward. Green buildings refer to a technique for building that uses fewer resources and results in healthier, more environmentally friendly, and less expensive to maintain structures. The full life cycle of a structure is taken into account in the sustainable construction method. Green buildings are used in commercial buildings because they reduce the day-to-day costs year-over-year, so an increase in green buildings will propel market growth. For instance, in 2021, according to the Multidisciplinary Digital Publishing Institute, a Switzerland-based open-access publisher of scientific journals, there were around 2600 projects in China that were awarded LEED (Leadership in Energy and Environmental Design) certification, and further, China’â„¢s green buildings exceeded 6.6 billion square meters in 2021 amid the country’â„¢s efforts to promote high-quality development in urban and rural areas. Therefore, an increase in the construction of green buildings is driving the commercial buildings market.
Key Industry Players
Major companies operating in the commercial buildings market report are Brookfield Business Partners LP, CBRE Group Inc., Bechtel Corporation, Turner Construction Company, Skanska AB, Jacobs Engineering Group Inc., Obayashi Corporation, Fluor Corporation, Kiewit Corporation, AECOM Technology Corporation, Keller Williams Realty Inc., Lendlease Corporation, Prologis Inc., DPR Construction Inc., Clayco Inc., Suffolk Construction Company Inc., Boston Commercial Properties Inc., Walsh Group, Marcus & Millichap Inc., Segro PLC, DLF Ltd., Mortenson Inc., Hunt Construction Group, RAK Properties PJSC, Lee & Associates Licensing and Administration Co. LP, NAI Global, Link Asset Management Ltd., MaxWell Realty Canada, Nakheel PJSC, Onni Contracting Ltd.
The commercial buildings market report table of contents includes:
1. Executive Summary
2. Commercial Buildings Market Characteristics
3. Commercial Buildings Market Trends And Strategies
4. Commercial Buildings Market – Macro Economic Scenario
5. Global Commercial Buildings Market Size and Growth
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31. Commercial Buildings Market Other Major And Innovative Companies
32. Global Commercial Buildings Market Competitive Benchmarking
33. Global Commercial Buildings Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Buildings Market
35. Commercial Buildings Market Future Outlook and Potential Analysis
36.Appendix
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